Hung's new casino is due to open in 2016 and will compete for a slice of Macau's riches. Gambling revenue in the territory topped $45 billion last year -- seven times larger than Las Vegas.

Hung is well known in Hong Kong for his ostentatious displays of wealth. According to a Wall Street Journal profile published late last year, the tycoon has a personal nine-car luxury fleet that includes a Bentley worth $1 million.